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Members rage at ‘cursed company’

The Equitable Members’ Action Group has made a scathing attack on chairman Vanni Treves, saying he has misled policyholders and wasted tens of millions in law suits that are nothing more than “grandstanding flimflam”.

Emag chairman Paul Braithwaite says Equitable is a “cursed company” and he slams Treves for “stabbing policyholders in the chest” by trying to scupper attempts to get compensation from the Government.

Equitable is continuing with its claim for 1.7bn from 15 ex-directors, which, if successful, could have serious ramifications for Emag’s drive to get the European parliament to open an inquiry into the UK regulators.

Braithwaite says Treves should drop the case and back Emag as that is the only realistic avenue for f significant compensation. I think Equitable is a cursed company. Its lawyer chairman Treves led policyholders to believe they would get billions in compensation from Ernst & Young and the former directors and the case was just grandstanding flimflam. I am gobsmacked that he is so brassnecked as to say they did not lose against E&Y.”

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